scholarly journals A Bootstrap Simulation for comparison of Group Risk Plan and Multi-Peril Crop Insurance Policy

2019 ◽  
Vol 1366 ◽  
pp. 012075
Author(s):  
Valantino Agus Sutomo ◽  
Dian Kusumaningrum ◽  
Rahma Anisa ◽  
Aryana Paramita
Keyword(s):  
Crop Insurance ◽  
Insurance Policy ◽  
Bootstrap Simulation

scholarly journals Improving the Socio-Economic Lot of Farmers in Thailand through Area-Yield Rice Crop Insurance at District Level

2021 ◽  
Vol 18 ◽  
pp. 284-292
Author(s):  
Krittiya Duangmanee
Keyword(s):  
Cluster Analysis ◽  
Crop Insurance ◽  
District Level ◽  
Local Context ◽  
Practical Implementation ◽  
Insurance Policy ◽  
Basis Risk ◽  
North Eastern ◽  
The World ◽  
Crop Area

Thai farmers face various risks associated with natural disasters, adversely affecting their income. Such events appear to be increasing each year in Thailand, which is one of the world leaders for harvested area of rice. Despite this, its yields are lower than various nations with a considerably smaller crop area. With a view to helping farmers to manage the relevant risks and so improve their socio-economic lot, there is a real need to adopt an agricultural financial tool called 'area-yield crop insurance'. Therefore, on the basis that area selection is the first key step towards introducing this type of policy at district level, this paper aims to group together similar districts. Hence the author conducted a cluster analysis of districts in six provinces in north-eastern Thailand. The results reveal differences between rice cultivation in the districts studied but also certain similarities, with the characteristics of some districts in a given province resembling those of districts in one or more other provinces. As a result, five groups of similar districts are mooted. These clusters, each having their own features, provide a powerful and useful mechanism for practical implementation, enabling the expected premium rates to be tailored better to the local context and mitigating a specific drawback, namely the basis risk of a prospective area-based crop insurance policy for the designated area.

scholarly journals Farmers perception and awareness about agriculture insurance scheme – a study of north karnataka

2021 ◽  
Vol 10 (3) ◽  
pp. 33-40
Author(s):  
N Maruti Rao
Keyword(s):  
Climate Change ◽  
Crop Insurance ◽  
High Time ◽  
Crop Loss ◽  
Insurance Company ◽  
Insurance Policy ◽  
Insurance Scheme ◽  
Indian Economy ◽  
Agriculture Sector ◽  
Awareness Programme

Agriculture is considered the backbone of Indian economy. The agriculture sector determines the growth and sustainability of Indian economy. About 52% of India’s workforce and 21% of India’s population still relies on agriculture for employment and livelihood. In spite of this, 197 farmers had committed suicide in 2015 in Karnataka (till September) and North-Karnataka accounted for 25 percent of such suicide cases compared to an average of 15 percent in remaining 5 regions of Karnataka (as per political map of Karnataka). As per the officials from agriculture department, none of the farmers who committed suicide had taken a crop insurance policy. These lives might have been saved if the crop is insured against climate change. As per the records of Agriculture Insurance Company of India (AIC) Ltd, only 16.3 percent of all farmers in Karnataka are covered under the NAIS. In the light of this observation, the researcher felt that it is high time to assess the awareness and existing knowledge about crop insurance among farmers. It is also necessary to assess perception of farmers about crop insurance. The study reveals that farmers have lot of faith in Pradhan Mantri Fasal Bima Yojana. They have strong confidence in PMFBY that it will provide security against Crop Loss. However, they opined that there is no provision in the policy for risk coverage of both Kharif and Rabi Seasons. It is suggested that crop insurance should be delivered along with crop loan through banks. The agriculture department (GOK) should conduct an awareness programme in collaboration with Management Educational Institutes. This will not only help in creation of awareness but also educating farmers about crop insurance

scholarly journals Cluster based area yield scheme for crop insurance policy in Java

2021 ◽  
Vol 1821 (1) ◽  
pp. 012005
Author(s):  
R Haryastuti ◽  
M N Aidi ◽  
S M Pasaribu ◽  
I M Sumertajaya ◽  
V A Sutomo ◽  
...  
Keyword(s):  
Crop Insurance ◽  
Insurance Policy

scholarly journals IMPLICATIONS AND EVALUATION OF CROP INSURANCE CHOICES FOR COTTON FARMERS UNDER THE 2014 FARM BILL

2018 ◽  
Vol 50 (4) ◽  
pp. 526-543
Author(s):  
KISHOR P. LUITEL ◽  
DARREN HUDSON ◽  
THOMAS KNIGHT
Keyword(s):  
Crop Insurance ◽  
Insurance Premium ◽  
Insurance Policy ◽  
Coverage Level ◽  
Agricultural Risk ◽  
Farm Bill ◽  
Insurance Policies ◽  
Agricultural Risk Management ◽  
Cotton Farmers ◽  
New Crop

AbstractThe Agricultural Act of 2014 introduced new crop insurance policies to manage agricultural risk, especially to cotton farmers. A representative farm panel was used to elicit the yield distribution of the farm, county, and correlation. Results suggest that the optimal underlying insurance policy is Revenue Protection at a 75% coverage level for both high- and low-productivity farms even with a Yield Exclusion provision. The Stacked Income Protection Plan benefit is mostly attributable to a higher insurance premium subsidy. For any crop, efficient agricultural risk management can be achieved through understanding the guaranteed yield and its relation to the farm and county yield.

scholarly journals Constraints and Suggestions Encountered by the Beneficiaries under Pradhan Mantri Fasal Bima Yojana in Tumkur District of Karnataka

2021 ◽  
pp. 33-37
Author(s):  
Y. Darshan ◽  
K. Ramakrishnan ◽  
J. Pushpa ◽  
K. Prabakaran
Keyword(s):  
Financial Institutions ◽  
State Government ◽  
Crop Insurance ◽  
The State ◽  
Farm Income ◽  
Crop Loss ◽  
Insurance Policy ◽  
Policy Makers ◽  
Karnataka State ◽  
Awareness Programs

The Pradhan Mantri Fasal Bima Yojna (PMFBY) is a crop-based insurance policy designed to help farmers who have suffered crop loss or damage and stabilizes farm income. In the year 2020-21, a study was conducted in the Tumkur district of Karnataka as district had highest number of insurance units (895) as compared to other districts of the Karnataka state. The findings of the study revealed that delay in getting the claim was the prime constraint faced by the beneficiaries with a highest percentage of 81.67 per cent and as ranked first followed by less compensation offered (80.00 per cent) and getting claims is a complicated procedure (76.67 per cent). With respect to suggestions given by the beneficiaries were before the start of the next season, the claim should be distributed with a percentage of 87.50 and ranked first, followed by organizing awareness programs for farmers regarding PMFBY (78.33 per cent) and representatives from financial institutions and policy makers should monitor and supervise the assessment (72.50 per cent). The study bought out a number of various constraints faced by the farmers related to Crop Insurance Schemes. As a result, concerned officers should approach the State Government and request that they make earnest efforts to pay the claim before the start of the following season as well as conduct more training and awareness programs.

scholarly journals Parametric crop insurance against floods: The case of Bosnia and Herzegovina

2020 ◽  
Vol 65 (224) ◽  
pp. 83-100
Author(s):  
Bojan Baskot ◽  
Stanko Stanic
Keyword(s):  
Bosnia And Herzegovina ◽  
Crop Insurance ◽  
Risk Index ◽  
Index Insurance ◽  
Insurance Policy ◽  
Weather Index ◽  
Insurable Interest ◽  
Weather Risk ◽  
Flood Intensity ◽  
Actual Loss

The importance of risk management in agriculture is unquestionable. Farmers in Bosnia and Herzegovina face weather, product, and price and market risk. Index-based insurance products for agriculture present alternatives for managing weather risk. They differ from classical insurance products in that they do not remunerate actual loss and to purchase a weather index insurance policy the insured does not actually have to have an insurable interest. In this research, two flood parametric insurance products are presented, one with fixed compensation and the other with compensation proportional to flood intensity.

Assessing the Impact of Suicide Exclusion Periods on Life Insurance

Crisis ◽  
2010 ◽  
Vol 31 (4) ◽  
pp. 217-223 ◽  
Author(s):  
Paul Yip ◽  
David Pitt ◽  
Yan Wang ◽  
Xueyuan Wu ◽  
Ray Watson ◽  
...  
Keyword(s):  
Life Insurance ◽  
Accidental Death ◽  
Insurance Policy ◽  
Death Rates ◽  
Insurance Policies ◽  
Suicidal Death ◽  
Insured Individual ◽  
The Impact ◽  
Insurance Data ◽  
The Relationship

Background: We study the impact of suicide-exclusion periods, common in life insurance policies in Australia, on suicide and accidental death rates for life-insured individuals. If a life-insured individual dies by suicide during the period of suicide exclusion, commonly 13 months, the sum insured is not paid. Aims: We examine whether a suicide-exclusion period affects the timing of suicides. We also analyze whether accidental deaths are more prevalent during the suicide-exclusion period as life-insured individuals disguise their death by suicide. We assess the relationship between the insured sum and suicidal death rates. Methods: Crude and age-standardized rates of suicide, accidental death, and overall death, split by duration since the insured first bought their insurance policy, were computed. Results: There were significantly fewer suicides and no significant spike in the number of accidental deaths in the exclusion period for Australian life insurance data. More suicides, however, were detected for the first 2 years after the exclusion period. Higher insured sums are associated with higher rates of suicide. Conclusions: Adverse selection in Australian life insurance is exacerbated by including a suicide-exclusion period. Extension of the suicide-exclusion period to 3 years may prevent some “insurance-induced” suicides – a rationale for this conclusion is given.

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